Location Root Tag

Big banks can afford mega-settlements to solve their woes, but First Horizon National in Tennessee has to fix itself the old-fashioned way: slow cleaning up of its mortgage mess, opportunistic acquisitions, opening loans offices … and, oh yes, begging investors for a few more years of patience.

Union Bank in San Francisco has added five new directors, including a former bank regulator, as part of a series of changes to its corporate names and structure.

SCHAUMBERG, Ill. — The reduction in mortgage demand has some credit unions reaching down to slightly lower credit scores.

The $9.7 billion-asset company said in a regulatory filing Wednesday that it could sell the stock from time to time through Credit Suisse Securities.

What lays ahead in the ever-changing payments marketplace? Credit Union Journal asked some industry experts and here's what they said.

SAGINAW, Mich. — A member of Team One CU found $7,000 in the CU's drive through earlier this week and decided to do the right thing.

MECHANICSBURG, Pa. — One CU is making it easy to transfer credit card balances to the cooperative — members simply snap a picture of their competing card's statement with a mobile phone.

BROOKFIELD, Wis. — Despite the slow adoption of point-of-sale mobile payments in the U.S., credit unions should begin preparing today for when the payments method takes off.

Five years after its implementation, the CARD Act has had a major impact on the financial services market — but the credit union story is different.

NEW YORK — The National Federation of Community Development Credit Unions is in the midst of a long-term project to help small credit unions reduce expenses around core banking systems and find efficiencies though collaboration.

WASHINGTON — Lenders across the country reported increased demand from consumers and businesses, continuing a prevailing trend from earlier this year, according to a Federal Reserve report.

The $1.6-billion asset company, based in Asheville, N.C., is headed into Virginia for the first time after announcing plans Thursday to open a commercial loan production office in Roanoke.

A former Georgia community banker who was accused of fraud and faked suicide has pleaded guilty to three felony charges for his role in allegedly defrauding a bank and private investors.

The company claims in a lawsuit against the Puerto Rican government that the territory could lose "a major lender in the Puerto Rico housing market" if it is denied a $230 million tax refund.

ALEXANDRIA, Va. — Idaho, Iowa and Virginia continue to lead the way in state-level gains, according to NCUA.

Donald Shamey, president and chief executive at NexTier Bank in Butler, Pa. will retire in July after 40 years at the helm.

American Express can provide affordable products to the unbanked and still make a profit, company executive Dan Schulman said at the Emerge conference. He was vague on details but hinted that its prepaid cards built on an lower-cost software platform are part of the answer.

The Columbus, Ohio, company started giving away pens in its branches in 2010. Now more than 20 million are in circulation around the world with a few ending up in bizarre places, including the movie Bad Grandpa.

WASHINGTON — As NCUA sifts through more than 2,000 comment letters on the risk-based capital proposal, CUNA and NAFCU hope the agency pays close attention to a letter the regulator received Wednesday from leaders of the Senate Banking Committee.

ARLINGTON, Va. — There is more turnover at the top at NASCUS after chairman John Kolhoff resigned earlier this week due to increasing duties in his role as a Michigan regulator.